Casino News: Vancouver Casino, New Caesars CEO, Slots Jackpot

It was a busy week for casino news as we got wind of a new casino opening in Canada, a new CEO for Caesars Entertainment and one heck of a lucky win in Las Vegas. Here are the key headlines from this past week:

Construction Set To Begin At $70 Million Casino And Hotel In Delta

Natives of Vancouver, Canada are set to get another gaming outlet. The clock is ticking down towards shovels hitting the ground for construction of the next big casino site, which will be located just 40 minutes from downtown Vancouver.

The process of building the new $70 million casino and entertainment destination is set to begin shortly as the Ministry of Transportation and Infrastructure has finally approved the civil works plan for the construction of the Cascades Casino Delta. According to outlines, the casino is expected to be a mid-size gaming and entertainment facility.

The Cascades Casino Delta is expected to include a casino floor that spans over 42,000 square feet. The site will also feature a five-storey hotel building and multiple restaurants, including the Match Eatery & Public House and the Atlas Steak + Fish buffet. The construction will begin on an 11-acre site of Delta Town and Country Inn, near the south end of the George Massey Tunnel.

The new casino, which is projected to open in 2020, will be housed in Delta, but that’s basically a suburb of Vancouver.

Caesars Entertainment has been looking for a new leader for some time now and it looks like they’ve settled on their man. A familiar face within the gambling industry has taken on a new role as Tony Rodio has been named the CEO of Caesars Entertainment. Rodio will replace Mark Frissora, who left recently but was mostly only tasked with guiding the company through bankruptcy reorganization in 2015.

Rodio has more than three decades of experience in the industry, including seven years as the President and CEO of Tropicana Entertainment, which sold for $1.85 billion last year. Rodio was working with Affinity Gaming at the time his decision to make the move was officially announced.

Caesars Entertainment operates more than 35 casinos in the United States alone. In late 2017, the company emerged from bankruptcy protection and has struggled ever since. With the company’s stock falling 16% over the past year, it’s no surprise that Caesars Entertainment finally made a change.

Billionaire activist-investor Carl Icahn, who owns a 17% stake in Caesars Entertainment, was pushing for a change in order to get the company back into the positive and he has finally succeeded. The company will also replace three different members on its board with directors chosen by Icahn.

Las Vegas Casino Patron Cashes In $13 Million Prize On $3 Wager

One lucky gambler in Las Vegas managed to turn a $3 wager in to a $13 million jackpot prize at a local casino. The guest was playing the IGT’s Megabucks Triple Red Hot Sevens Slot at the Sunset Station in Henderson when the bell rang for their $13,154,723 payout. According to the casino, the lucky winner had been playing at that slot machine for less than two minutes when they hit the jackpot. Not bad for a few spins.

The winner is from Arizona but elected to remain anonymous. They did provide a comment, though, indicating that they had visited the area for years prior to the big win.